Foreclosure may be driving the rise in suicides, according to new research. The Washington Post reports new information about how the American foreclosure crisis is part of an alarming healthcare crisis—including a rise in the suicide rate. Researchers have connected foreclosures to depression, stress-related illnesses and spikes in emergency room visits.
New research from the American Journal of Public Health states that foreclosures have contributed to the rise in suicides since 2005. This research adds to previous research from Purdue and Dartmouth universities about the human—not just the financial–impact of foreclosure. According to the Washington Post:
Researchers Jason Houle at Dartmouth and Michael Light at Purdue looked at state-level suicide rates from the Centers for Disease Control and Prevention, alongside proprietary foreclosure data from RealtyTrac in all 50 states and the District of Columbia between 2005 and 2010. Their analysis compared the two datasets within each state across time, and across each state at fixed moments, controlling for variables captured in data from the American Community Survey (including demographics, unemployment and poverty rates, divorce rates and population density).
Go to the Washington Post to read more about this research tying foreclosures to the increase in the suicide rate.
Foreclosure has a much bigger impact than just losing your place to live. There are severe financial and emotional consequences as result of foreclosure—so it is never advisable to simply walk away. An attorney from our law firm can meet with you to discuss how to protect yourself in the event you find yourself facing foreclosure, even when you have no interest in saving the property.